Over this past year, iNovia Capital has played a big role in a number of startups such as Fixmo, Beyond The Rack, Gamerizon and Empire Avenue. Today they just announced they have raised $110 million for its third fund, iNovia Investment Fund III L.P. (“iNovia III”). iNovia III.
“We have benefited from the support of top institutional and value added individual investors many of them return investors,” said Chris Arsenault, Managing Partner. “In prior funds, these investors have enabled us to invest in some of the more important companies in the sectors we focus on. From this base, we can leverage the network we have built over the years to make impact investments and help grow these companies thereafter wherever they are located.”
A number private and institutional Canadian investors are involved in this third fund including; Teralys Capital, BDC Venture Capital, AVAC Ltd., Alberta Enterprise, the BC Renaissance Capital Fund and the iNovia General Partners.
The iNovia III fund will help provide financial support of any size as low as only a few hundred thousand in seed stage companies with more mature investments as high as $10 million over the life of a given company.